Razorback athletics revenue up nearly 10% in FY2023 to $167.3M

by Paul Gatling (pgatling@nwabj.com)

The University of Arkansas athletics department set a record in operating revenue in the 2023 fiscal year by generating $167.3 million.

The UA reported $166.5 million in athletic department expenses — also an all-time high — for an operating surplus of less than $1 million.

The figures are from the university’s annual financial report to the NCAA. Fort Smith-based Landmark PLC conducts the annual audit. The 2023 fiscal year began July 1, 2022, and ended June 30, 2023.

The athletics department’s revenues continue a rapid climb. The UA reported $152.51 million in revenue in FY 2022, and $132.2 in FY 2021 revenue. Expenses are also skyrocketing. In the past two fiscal years, the department’s spending totaled $144.3 million (FY 2022) and $111.5 million (FY 2021).

Razorback athletics revenue up nearly 10% in FY2023 to $167.3M

NCAA Allows Students To Profit from Name, Image, and Likeness

By MATTHEW MOORE

In April, the Arkansas State Legislature passed Act 810, which gives college athletes in the state the opportunity to be compensated for their name, image, and likeness. On July 1, the NCAA adopted an interim policy, which provides a uniform policy for all institutions. The University of Arkansas has created an in house program to help facilitate their student athletes, while smaller universities are depending on third parties to do this work.

https://www.kuaf.com/post/ncaa-allows-students-profit-name-image-and-likeness

Jordan Wright, owner of Wright's Barbecue, with the "Protectors of the Pit"

COURTESY / WRIGHT'S BARBECUE